Socialism: The Most Common Economic System In The World Today

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Capitalism is the most common economic system in the world today. Capitalism is an economic system in which a country’s industry and trade are controlled by private owners, not the government. Capitalism is superior to socialism because there is freedom to do business to individuals, allows private ownership, and Free market is allowed.

In a capitalistic society, anyone can start a business and make decisions and earn profits from that business. They also have the opportunity to benefit from competition. Although business does good for capitalist, there are some disadvantages. Owning your own business can lead to to many profits to deal with and can effect society, but there are more advantages than disadvantages. All in all, owning a business

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